The Net Investment Income Tax (NIIT) is an additional 3.8% tax that applies to certain types of income for high-income earners. Introduced as part of the Affordable Care Act, this tax often catches individuals off guard, particularly those with significant investment income. In this blog, we’ll break down what NIIT is, who it affects, and […]
As the end of the year approaches, employers are required to file accurate W-2 and 1099 forms. Ensuring compliance is not only a legal obligation but also a vital part of maintaining smooth operations and avoiding penalties. What Are W-2 and 1099 Forms? W-2 Forms: These are used to report wages paid to employees and […]